Invigor to roll out popular Chinese payment platform Alipay
Data solutions company, Invigor Group Limited (ASX:IVO), has reached an agreement with China’s Winning Group Holdings Limited to distribute and expand Alipay services in the Hong Kong region.
IVO previously announced a binding MOU with China’s Winning Group to oversee and expand WeChat pay services in South-East Asia on September 18.
Alipay is a third-party mobile platform that has quickly become one of the most popular payment methods in Asia. The online payment gateway is one of the world’s highest valued fintech companies, coming in at over US$150 billion.
Thanks to this latest agreement, IVO and Winning Group are primed to grow the payment services market share in South-East Asia via its already established presence.
IVO CEO Gary Cohen commented on the encouraging news, “Alipay and WeChat pay account for most of the payment transactions in Asia.
“Winning Group has once again provided us with great opportunities to distribute and expand services across regions in which we already have a strong presence.”
At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
The company’s revenue share is outlined in the 18 September ASX announcement, but will be based on a percentage of the transaction revenue generated.
Additional details on the opportunity will be provided on the WeChat Update – Investor Web Conference Call, which will commence on October 8 2018 at 2pm AEST.
To attend, click the following link: https://register.gotowebinar.com/register/4827608505732354818?source=ASX+Announcement+2